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10 Ways Companies Are Profiting off Bitcoin

Bitcoin isn't just turning investors wealthy. Companies are profiting off Bitcoin in a wide variety of ways, too!

Bitcoin investing seems to be an individual-only way to get rich, but that's actually an illusion. These days, the rebellious cryptocurrency that was once used by hackers and criminals has become increasingly corporate-friendly.

The reason why Bitcoin's being embraced is because it's been proven to be incredibly profitable for a wide variety of reasons. The crypto's value alone has skyrocketed, as has demand for Bitcoin mining hardware and just about every other crypto-related asset out there.

These days, companies are profiting off Bitcoin in ways that you never even thought about. Here are some of the coolest examples showing how companies have jumped on the Bitcoin bandwagon in recent years.

NVIDIA basically skyrocketed thanks to Bitcoin.

NVIDIA makes graphics cards that are used in Bitcoin mining rigs, and since Bitcoin mining has become increasingly popular for profiteers, it's easy to see how they made a massive profit.

A lot of gear-making mining companies are profiting off Bitcoin's uniquely demanding mining processes. Any major GPU maker has seen profits spike as a result of Bitcoin mining—and that trend shows no sign of slowing down.

One of the most common ways to invest in Bitcoin without owning any coins is to buy NVIDIA stock. Coincidental? Not in the least.

Retail stores that accept Bitcoin also can profit from fluctuations in price.

Though rare, there are retail stores that accept Bitcoin out there. In the retail world, there are significant fluctuations in the market. After all, if someone pays $200 in Bitcoin and the value of Bitcoin rises, the business will likely keep more.

It's uncertain how companies will handle this in terms of taxation. Even so, it's a pretty good incentive to accept blockchain currency in your place of business.

Multiple companies have started to arise to help people store their Bitcoins safely, too.

With new opportunities comes the chance of profit—and that's why a lot of companies are seeing success from returns on Bitcoin's popularity by creating goods and services that cater to investors.

Many of the best Bitcoin wallets started out because people noticed a lot of demand for safe crypto storage, especially when it came to insured Bitcoin wallets. People started to make Bitcoin accessories for the same reason, and the same can be said for Bitcoin-related news sites.

Large-scale mining ops have also yielded similar high profit results.

Everyone knows that Bitcoin mining can be a profitable hobby when done solo, so it's not surprising that a number of Bitcoin mining companies have started to pop up too.

By increasing profitability to a larger scale, companies are profiting off Bitcoin mining in record numbers. Once they mine Bitcoins, they either keep them to increase company profits later or they sell them in the market, turning them into pure cash profit.

Mainstream media has also started to add crypto news due to the increased demand as well.

News groups make a profit when they discuss topics people care about. They also gain profit by having people pay for advertising through them, too. Many crypto startups have started to pay for advertising and mentions on mainstream media sites.

The media companies that talk about Bitcoin at length, therefore, have been profiting off Bitcoin's existence in the form of ad revenue. Not too shabby!

Microsoft has been starting to invest in crypto as part of its holdings.

In 2018, Microsoft, one of the largest tech companies in the world, invest heavily in blockchain technology and Bitcoin on a whole. It's not totally certain what they're doing with the holdings, but it's safe to say that Bitcoin's increase in valuation has helped Microsoft increase profits.

As the craze continues, it's safe to say that companies are seeing straight investment pay off form them through Bitcoin—if they're wise enough to invest in it, anyway.

Bitcoin Billionaire game developers cashed in off the Bitcoin craze by creating a viral game.

If you have been perusing the app world, then you might have heard of Bitcoin Billionaire. This cute phone app is a game that allows you to be a Bitcoin investor without spending a dime—and it went viral due to its playability.

It's not the only game company to use crypto's boom as a concept for a game, but it is a great example of how companies are profiting off the explosion in popularity of Bitcoin, and how game developers are inspired by it.

Bitcoin-related games don't have to be techy; they just need to have a fun gameplay. You don't need to know the price of Bitcoin to see this as a profitable concept for a game, either. What's popular in the news will end up being popular with gamers too.

Have you ever wanted to invest in Bitcoin via the stock market? Well, certain fund companies have noticed that there was a demand for it among their own investing groups as well.

CME Group, one of the more popular fund companies to offer Bitcoin futures, has seen a huge spike in interest from investors that want to know how to short-sell Bitcoin without going the traditional route.

Square made a Bitcoin trading app that yielded profits.

Bitcoin trading is a huge hobby among people who love the concept of cryptocurrency investment. Now, major companies are making serious coin off Bitcoin's trading popularity by making trading platforms that facilitate it.

Square's Bitcoin trading app may not be as popular as the typical platform, but it's still managed to be a profitable part of Square Cash. That alone should tell you that the boom is far from over.

Finally, major investment firms like Goldman Sachs are making money by advising others on Bitcoin investment.

Contrary to popular belief, investment companies are profiting off Bitcoin too—even if they are just only beginning to get into it. Goldman Sachs recently admitted that Bitcoin is a good investment, and now is slowly coming around to advising others on how to invest in it.

So, who knows? Maybe we'll see Wall Street companies like Merrill Lynch actually buy up Bitcoin for their own mutual funds too!

Iggy Paulsen is a fan of anything and everything wholesome. He loves his two dogs, hiking in the woods, traveling to Aruba, building DIY projects that better humanity, and listening to motivational speakers. He hopes to eventually become a motivational speaker himself.